Home prices in Princeton NJ
Home prices in Princeton NJ continue to rise which have set expectations for a robust Spring 2014 real estate market. We have seen 18 straight months of sold price increases on home prices in Princeton NJ and don’t expect things to slow down anytime soon. Despite the rise of mortgage interest rates, there's a pent up demand for housing. Note the luxury market for homes above $2 million have continued to remain sluggish as the sole exception. If you are considering buying a home you can still find values in a home in Princeton NJ. However, having a good real estate agent who understands the local market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market with multiple offers.The median numer of Days on Market is 121. As you can see from the graph above, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Princeton NJ home on which you are making an offer.
Princeton Market Inventory Trends
If you are interested in how much current inventory is on the market in Princeton NJ you can find that information by clicking on the link, or on the side graph. The number of active listings in Princeton (08540) dropped by 11.1%from the previous month.The median number of days active properties have been listed is 121.The number of sales in August dropped by 76% from the previous month.
New Jersey Market
The law of supply and demand are clearly at play now. New Jersey is experiencing the lowest level since 2005 of homes being offered for sale which results in limited choices for home buyers. To top it off, home purchase demand is up 23% making it 26 consecutive months increases. New Jersey saw a 5.5% increase in prices during 2013.
Here's your chance to find out what a specific home sold for in Princeton. You might want to know what your neighbor's home sold for a perhaps a specific one in a neighborhood you've been eyeing. This will be a big help in keeping you up to date about home prices in Princeton NJ
Find Homes for Sale in Princeton NJ
Visit my website to search homes for sale in Princeton NJ or to be notified when homes come on the market.
To find out what you home is worth in the current market fill out this easy form to receive a detailed analysis. Of course, each home is unique and the value will depend on what kind of upgrades and additions you might have done to your home as well as the location. However, If you would like a quick instant ball park price,click here.
Thank you for reading about Home Prices in Princeton NJ for January 2014.